Somebody correct me if i'm wrong though, I don't mean to disregard good advice from anyone. 

@Dean Letfus is correct, there are a ton of wholesalers that are looking to move houses that are in terrible areas with no thought of our future and what it could mean to us to sell us a terrible product. 

But, we want to repaint correctly.

Originally posted by @John Brady:@Kyle Jean @Chris Ha Freddie and Fannie small balance have 30 year amortizing loans but both have a minimum loan of $1 million  Correct although you could potentially get a waiver down to ~$880k or so.

Only other correction I want to make to the info above, you cannot eliminate PMI on this product until you hit a 65% Loan-to-Value on a 2-4unit...unless you refinance. 

I should correct my answer to number 1.

You need to stay in touch with your market to know how much is correct.

I know that can be a challenging transition.FSBOs - haven't done one myself but I used to be a licensed agent in Texas so I dealt with FSBOs on both the buyer and seller side.Biggest issue with FSBOs is pricing your property correctly.

Hard money loan would be the third option, but the interest may not be worth it, am I correct?

I see sellers fluffing the books with weak tenants to sell at an inflated price and then the buyer ends up with a headache.I think previous suggestions are correct - let tenants know that new management will be much more stringent on collections, and also try to raise rents if possible.